Question

Due to Covid-19, businesses have had to shift how they market their products and services. I would like to see an example that you feel did a great job of this over the last couple of months. PLEASE USE WALMART

3. Does your product/company do Retail Marketing? How has it changed? Provide a few sentences of detail.

6. How do you think the company/brand/product/service you selected can utilize this to create a competitive advantage? Provide a few sentences of detail.

Answer 1

During this period of crisis, Businesses have shifted the way they have started transacting with their customers and other key stakeholders.

The retailers and wholesalers have tapped social media chat platforms to take orders from their customers. For instance, many renowned retailers have come up with real time chatbots to obtain orders from their customers. There has also been instances of arranging the check-out counters on the basis of maintaining social distancing.

Let's take an example of key wholesale retailer, Walmart and the way transactions are done. All incoming shipments and vehicles are sanitized properly before letting the goods in. Similarly, the necessary precautions are taken to ensure that customers are screened properly before letting them to enter.

With respect to transactions, almost all businesses have gone digital to avoid any touch with currency and coins. The mushrooming of digital payments by payment through QR codes have made hassle - free trans cations during this time of crisis.

Many Bigger brands have used this time as a chance to gain competitive advantage. With more than 80% of the industry players struggling with plant capacity operating at around 30% , the stocks at the outlets have dried up.

Those who intend to supply adequate stocks at this crucial juncture will gain better brand recall and goodwill once normalcy returns.

Lastly, Distribution teams have understood the importance of employing safe pre-packaging techniques at distribution centers to avoid any unnecessary delay in sorting items based on orders at the delivery point.